Chairman, CEO and President, Perrigo
Total 2014 Compensation: $18.95 million
Perrigo ($PRGO) has been in the spotlight lately as Mylan's ($MYL) reluctant takeover target. But the Dublin-based company has been on something of an acquisition binge of its own. It snapped up fellow OTC drug specialist Omega Pharma last fall to amp up its presence in Europe and fuel its international growth. Before that, it snagged the Irish drugmaker Elan--and its royalty streams--in an $8.6 billion deal that flipped its official domicile to Dublin from Allegan, MI. And that followed a series of small deals, including forays into animal health and dermatology.
All that activity has taken Perrigo from a $620 million drugmaker in 2011 to $4.2 billion in 2014. And last year, Papa reaped his own increase--$18.95 million in compensation, up from just $6.1 million in 2013. That's something of a false comparison; $11 million of that came in the form of excise tax payments Perrigo made on Papa's behalf when the company did its tax-inversion deal.
But Papa did get a raise--his stock awards went up to $3.99 million from $2.4 million, and his cash incentive pay rose to $1.04 million from $953,000. His base salary ticked upward to $1.12 million, while his option awards grew to $1.7 million from $1.55 million. Without that tax assistance, Papa's total 2014 pay hit $7.86 million.
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